Tuesday, June 01, 2010

Too often, homes taken over by banks are being neglected to the point that they are dragging-down entire neighborhoods by attracting trash, vermin and crime. And additional safety hazards are caused by overgrown brush and derelict swimming pools. That's why I took the lead on a new ordinance that would levy fines of up to $100,000 against banks that foreclose on homes and let them fall into disrepair. And in these tough budget times, the ordinance makes sure that registry, inspection, enforcement and other costs are covered by fees and fines paid by banks, not by the taxpayers.

The picture to the right was taken at a foreclosed home I recently visited in South Los Angeles, where I met with neighbors who were simply fed up. The home's yard was overgrown with weeds and strewn with beer bottles, bags of garbage, scrap wood, broken furniture and other debris. Unfortunately, homes like it are found in neighborhoods across the city.

Los Angeles residents can take action by reporting neglected bank-owned homes by calling 311 or my office at 323-957-4500.